What is an EVP, and why should your organization invest in it?
The concept of “employee value proposition” has first taken roots in the 90s. Since then, it has continued to evolve consistently. Nowadays, a company with a strong EVP (employee’s value proposition) surely perform better in the long run than companies that ignore the concept. But what exactly does EVP mean?
Simply put, the EVP of an organization reflects this simple question: “Why would an employee choose to work for your company instead of other companies?” Most of you are probably familiar with the “customer value proposition” term. It reflects the same question, only that it is addressed to the customer instead of the employee.
In today’s tough market, acquiring, nurturing, and keeping employees is a difficult task for most companies. Why is that? Well, firstly, the competition is picking up in any field. Moreover, today’s employees have many options and a lot of flexibility. If your brand doesn’t suggest a strong EVP, developing a strong team of employees might be quite a difficult task.
In this post, we’ll be giving you several insightful tips on how to build a great employee’s value proposition and improve your chances of recruiting and maintaining quality employees in the long run. Pay attention and do your best to implement as much as possible. Here we go.
1. Know Exactly What You’re Offering
Before developing your EVP, you need to start with the basics. First of all, you must clearly understand what your company is and what it isn’t. Preserve your objectivity while going through this process though, as the entire point of this analytical process is to find better ways of attracting and satisfying your employees in the long term.
Ask yourself: besides the paycheck that you’re offering, what other benefits and opportunities will your employees receive? For example, many people hate the jobs that do not offer them growth opportunities. Moreover, other employees enjoy being a little flexible with their jobs.
Now the question is. What can you truly offer?
2. Ask for Feedback from Your Current Employees
It pays off very good to know what your company can and cannot offer. However, paying attention to your employee’s needs and wants is crucial for your long-term EVP strategy. First off, try to figure out these needs and wants on your own. Once you’ve done that, I’d suggest talking to your employees directly and asking for their feedback.
You can ask questions like:
- Why do you like working here?
- What motivates you to engage more?
- What improvements would you like to see?
- What’s the single most important need that you have related to our company?
3. Put Your EVP in a Sentence
Once you’ve done your homework, it’s time to start developing a palpable employee’s value proposition. Here’s what I would suggest.
For your EVP to be efficient, it needs to respect certain characteristics such as simplicity, inspiration, uniqueness, and on-point. Start looking for words and slowly develop a “statement” using just a single sentence.
4. Get Personal with Your Employees
Ronald Broussard, HR Generalist at Careers Booster, suggests:
“Every single employee will like to be treated as a person and not as a working machine. Getting personal with your team every now and then should pay off well in the future. Why? Well, once your employees understand that you’re not just the “big boss” who gives orders, their attitude towards your company will change.”
So as you may see, they’ll gain trust and motion, so your company can only get benefits. Getting personal with your people…how hard can it be? Still, once you do that, your EVP gains more power.
5. Reward Your Team on a Consistent Basis
Have you considered to actively motivate your team through rewards? Well, if you haven’t, give it a shot as soon as you can. Here’s an example of what I mean.
You set some standards, goals, and performance standards. Let all of your employees know what is expected of them, and be sure to display the future rewards for those who do well. Motivate your employees on a consistent basis and you’ll rarely have trouble with any of them.
6. Recognize Your Employee’s Achievements Outside the Office
The office life is not everything that matters for your employees. Therefore, rewarding them for accomplishing good results in the office is just one way of improving your employee’s trust, engagement, and motivation.
However, a complex leader always pays attention to how his employees are doing outside of the workplace. Get involved in that, take a quick peek on their social media profiles (once in awhile), and have some friendly conversations periodically.
Once you observe different personal achievements of your employees, ensure that you’re recognizing their accomplishments and results.
A strong EVP definitely represents a difference in standards between today’s companies. Employees seek what it’s best for them, and brands that successfully manage to capture their workers’ (and future workers’) attention through a nice proposition will definitely develop an efficient and stable company’s culture.
About the author:
Eva Wislow is a career coach and entrepreneur from Pittsburgh, PA. She is on a mission to help people find their true calling. Eva maintains a strong interest in bringing the digital revolution in human resources. She finds her inspiration in writing and peace of mind through yoga. Connect with her on Twitter.